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2017.06.28
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 COMPANY FORMATION
Bulgaria
INCORPORATION DATASHEET
 
Numerous clients are starting to choose Bulgaria as the jurisdiction in which to set up companies thanks to the low rates of corporation tax and personal income tax. The country’s banking system is relatively stable, and the exchange rate of the local currency is pegged to the euro. The opening of bank accounts for companies registered here is simple, and receiving an EU tax number does not particularly pose problems.

Company formation in Bulgaria

You can download our brochure here:
Company formation in Bulgaria

Method of incorporation / registration: 2 phases - 1, Minutes of incorporation and Articles of Association, signed by the members of the company (no notary certification needed) 2, Registration of the company in the register of companies. The company documents must be in Bulgarian. Personal presence is not required.
Company form: Limited Company by Shares.
Source of corporate legislation: Commercial Law of the Republic of Bulgaria 48/1991 amending & completing law 38/2006
Possible suffixes to company name EOOD/LTD for Sole Limited liability company
OOD/LTD for Limited liability company
Restrictions on company name: The name must contain OOD/EOOD. The words Bank, Insurance, Global, National, Imperial, European, Investment, Financial, Trust or Insurance may not appear in the company name.
Time required for incorporation: 1-2 weeks
Number of managers: Minimum 1 manager. Corporate directors are not permitted.
Number of members: One member - EOOD (Sole Limited liability company)
Minimum two members - OOD (Limited liability company)
Capitalisation: Minimum 1 EUR/member
Accounting / reporting requirements: Annual financial statements must be produced. VAT and social security returns must be filed monthly.
Type of shares: Bearer shares are not issued. The capital of the company consists of the stakes of the members, all of which must be at least 10 BGN.
Annual tax and duties: 10% of net profit
Information publicly available: Details of members, manager/s, registered office, autorised capital of the company, sphere of activities.
Registered office: Local registered office suitable for the main activity of the company is required by law
Administrative agent: Not required by law, but highly recommended
Double tax treaty: Bulgaria has an extensive network of DTTs

 

FEES
Company registration with standard contract form in simplified registration proceeding, provision of stamp
290 EUR
Provision of Registered office (in Sofia) for the company from the date of registration
960 EUR
Opening of a bank account in Bulgarian Bank
490 EUR
TAX identification number + EU VAT number
290 EUR
TOTAL 2 030 EUR

 

OPTIONAL COSTS
 
COST FOR DIRECTORS SERVICES:
Nominee Director from  3 000 EUR / year
Full signature:
Up to 8 signatures 80 EUR / package
Every further 8 signatures 40 EUR / package
Short signature (Initial):  
Up to 8 signatures 40 EUR / package
Every further 8 signatures 20 EUR / package
ACCOUNTING PRICES – REFERENCE FIGURES
(It is always subject to an agreement with the accountant)
1. DORMANT PACKAGE
The amount includes:
  • accounting for dormant company
  • VAT
  • VIES
  • Intrastat report
  • yearly financial statement
80 EUR / month
(even if the company is dormant)
2. SMALL PACKAGE

The amount includes:

  • accounting fees for about 1-20 entries into the books
  • VAT
  • VIES
  • Intrastat report
  • yearly financial statement
210 EUR / month
3. MEDIUM PACKAGE

The amount includes:

  • accounting fees for about 21-50 entries into the books
  • VAT
  • VIES
  • Intrastat report
  • yearly financial statement
250 EUR / month
4. LARGE PACKAGE

The amount includes:

  • accounting fees for about 51-100 entries into the books
  • VAT
  • VIES
  • Intrastat report
  • yearly financial statement
300 EUR / month

5. EXTRA LARGE PACKAGE

The amount includes:

  • accounting fees for about 101-150 entries into the books
  • VAT
  • VIES
  • Intrastat report
  • yearly financial statement
350 EUR / month
ADMINISTRATION OF EMPLOYEE 5 EUR / employee
ACCOUNTING ADVICES 100 EUR / hour
Payroll is by different calculation, depending on case-to-case-basis.
OTHER SERVICES
1 set of Apostilled Memorandum of the Association* 290 EUR
Telephone and fax number, basic mail service, receptions 480 EUR
Modification of Memorandum and Articles of Association with Apostille from 350 EUR
Extract from the Company Registry with Apostille from 250 EUR
* Company registration with special Memorandum and Articles in general registration proceeding, including VAT extra charge
ask for price


The prices do not include the VAT.

Related news:
Bulgaria Amends Measures Against Excise Fraud    27.01.2014
Bulgaria Eases Gambling Tax    06.12.2013
Bulgaria Plans New Corporation Tax Break    14.10.2013
Bulgaria Promises Action On Offshore Companies    01.07.2013
Taxation trends in the European Union    02.05.2013
Bulgaria ratifies tax treaty with Switzerland    09.04.2013
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